All scrubbed up and ready to go? Updated analysis of the IMO 2020 marine fuel sulphur changes Report

Insight 31 January 2019

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Why buy this report?

With less than a year to go before the IMO regulations come into force, our latest IMO 2020 insight further develops our outlook on the impacts of the marine fuel sulphur changes. Key developments in this report include:

Our most up to date forecasts for product crack spreads, refining margins and crude differentials
More detailed analysis of availability and quality of VLSFO by region, and updated numbers for the consumption of scrubbed HSFO
Additional work on the impact of the IMO regulations on the evolution of the global crude slate, refinery investments and upgrading capacity.

Report summary

There is now less than a year to go until the IMO regulation limiting the sulphur content of fuel oil used on board ships to 0.5% comes into force. This insight summarises our latest analysis of the impact of this fuel specification change. The insight provides updated forecasts for product crack spreads, refining margins and crude differentials consistent with our H2 2018 crude price forecasts and global refined product balances. We highlight recent developments in scrubber and LNG investments and provide our latest assessment of the availability and quality of VLSFO by region. We also present further work on the impact of the evolution of the global crude slate, refinery investments and upgrading capacity.